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Implied SPYV Analyst Target Price: $124

By Dividend Channel Staff, Friday, August 18, 9:52 AM ET
Play Video: The Importance of ETFs


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Looking at the underlying holdings of the ETFs in our coverage universe at ETF Channel, we have compared the trading price of each holding against the average analyst 12-month forward target price, and computed the weighted average implied analyst target price for the ETF itself. For the SPDR S&P 500 Value ETF (AMEX:SPYV), we found that the implied analyst target price for the ETF based upon its underlying holdings is $124.42 per unit.

With SPYV trading at a recent price near $112.60 per unit, that means that analysts see 10.50% upside for this ETF looking through to the average analyst targets of the underlying holdings. Three of SPYV's underlying holdings with notable upside to their analyst target prices are National Oilwell Varco Inc (NYSE:NOV), Robert Half International Inc. (NYSE:RHI), and Affiliated Managers Group Inc. (NYSE:AMG). Although NOV has traded at a recent price of $30.09/share, the average analyst target is 14.27% higher at $34.38/share. Similarly, RHI has 14.19% upside from the recent share price of $43.24 if the average analyst target price of $49.38/share is reached, and analysts on average are expecting AMG to reach a target price of $197.50/share, which is 14.16% above the recent price of $173.00. Below is a twelve month price history chart comparing the stock performance of NOV, RHI, and AMG:

NOV, RHI, and AMG Relative Performance Chart

Below is a summary table of the current analyst target prices discussed above:

Name Symbol Recent Price Avg. Analyst 12-Mo. Target % Upside to Target
SPDR S&P 500 Value ETF SPYV $112.60 $124.42 10.50%
National Oilwell Varco Inc NOV $30.09 $34.38 14.27%
Robert Half International Inc. RHI $43.24 $49.38 14.19%
Affiliated Managers Group Inc. AMG $173.00 $197.50 14.16%

Are analysts justified in these targets, or overly optimistic about where these stocks will be trading 12 months from now? Do the analysts have a valid justification for their targets, or are they behind the curve on recent company and industry developments? A high price target relative to a stock's trading price can reflect optimism about the future, but can also be a precursor to target price downgrades if the targets were a relic of the past. These are questions that require further investor research.

The average analyst target price data upon which this article was based, is courtesy of data provided by Zacks Investment Research via Quandl.com.
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This Article's Word Cloud:   Affiliated   Below   FREEGet   Group   Half   Managers   NYSE   Oilwell   Robert   SPDR   SPYV   Target   Value   Varco   Zacks   analyst   analysts   average   background   based   border   bottom   color   data   from   have   hctblstyle   holdings   implied   latest   month   padding   price   prices   recent   report   research   share   solid   stock   target   targets   that   these   trading   underlying   unit   upon   upside   which

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